ACH Network Sees Strong Growth in First Quarter of 2024
The ACH Network is off to a remarkable start in 2024, with a 47% surge in Same Day ACH volume and a 10.8% increase in business-to-business (B2B) payments during the first quarter. These numbers underscore the growing importance of faster and more efficient payment methods in today's digital landscape.
The rise in Same Day ACH payments, which reached a record-breaking 95.6 million transactions in March, highlights the strong demand for real-time fund transfers. This trend is further supported by the 27.2% year-over-year increase in the value of Same Day ACH payments, which reached $719 billion.
The robust growth in B2B payments, accounting for 1.7 billion transactions in the first quarter, demonstrates the evolving needs of businesses seeking seamless and secure payment solutions.
If your financial institution still hasn't jumped on the ACH Origination bandwagon, it's time to give us a call! Don't let this lucrative opportunity pass you by! Let this also be a quick reminder to schedule your 2024 ACH Compliance Audit before the 4th quarter crunch.
(2024, April 23). Same Day ACH and B2B Propel ACH Network Growth in the First Quarter.
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